ECC likely to approve hike in gas prices today

ISLAMABAD - Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh will preside over the Economic Coordination Committee (ECC) meeting in Islamabad today (Tuesday).

According to media details, the meeting will discuss an eight-point agenda and is expected to approve a hike in gas prices for the financial year 2019-20.

The Oil and Gas Regulatory Authority (Ogra) had earlier proposed a 214 percent hike in gas prices.

In the last meeting, the ECC had deferred the proposal to increase the gar prices as the Ministry of Petroleum had earlier submitted its summary to jack up gas prices from February 01, 2020.

The gas consumers are already bearing the heat of 14.6 percent headline inflationary pressures.

The ECC meeting will also consider the approval for the request of conversion of loan into grant in the name of the government of Azad Jammu and Kashmir (AJK). 

The meeting will also discuss the presentation on a comprehensive policy for the enhancement of cotton production in the country.